Primarily used in coordination chemistry, this compound acts as a ligand to form complexes with various metal ions, particularly in the synthesis of luminescent materials. Its ability to bind metals makes it valuable in the development of sensors and probes for detecting metal ions in biological and environmental samples. Additionally, it is employed in research involving electron transfer processes and photophysical studies due to its unique electronic properties. The compound is also explored in the field of organic electronics for its potential in creating efficient light-emitting devices.